Market News Media Update

Weekend reading of Canadian Real Estate in the news:

• New listings of homes for sale across Canada set record in July: CREA [The Canadian Press]
  The number of new listings of existing houses for sale surpassed 80,000 for the first time ever in July and sales activity fell, making the market more favourable for buyers and less so for sellers, the Canadian Real Estate Association said Friday.
• Power shifts to homebuyers as listings mushroom: brokers [CBC News]
  Propelled by record numbers of new MLS residential listings in Ontario and Quebec, the national figure hit 80,147 in the month, up 1.4 per cent from June and 0.5 per cent above the previous record set in May 2008, the statement said.
• Sales of used homes decline as price rise slows in Canada [Calgary herald]
  Forget the past 20 months — they were an anomaly. What the Canadian real estate sector is moving toward is a more balanced market, says a national industry group.
• R-word aside, we are going nowhere [Financial Post]
  Technically speaking, we have escaped a recession. Practically speaking, the escape may be short-lived as the struts holding up the economy crumble one by one.

Posted by:  Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889

Related Articles:

1. Media Round-Up: Home Buyers Leading the Canadian Real Estate Market
2. Home re-sale market shows signs of recovery
3. More Listings on the Market Slows Canadian Price Increase
4. How’s the market: June & July 2010
5. News Roundup: Canadian Housing Market.